Newsletters | Request Trial | Log in | Advertise | Digital Issue   |   Search
  • Green hydrogen
  • Blue hydrogen
  • Storage & Transportation
  • Consumption
  • Strategies & Trends
  • Finance
  • Women in Hydrogen 50
  • Podcasts
Search
Related Articles
MENA NOCs secure influence in low-carbon future
Regional state-owned firms are transforming their strategies and leveraging their resources to position themselves as clean energy powerhouses, and to ensure they maintain influence in a low-carbon world
Saudi Arabia's path to transition, part 3: Closing the gap
The Energy Transition Advancement Index highlights how the Kingdom can ease its oil dependency and catch up with peers Norway and UAE
Saudi Arabia's path to transition, part 2: Energy addition
Maintaining a competitive edge means the transformation must maximise oil resources as well as make strategic moves with critical minerals
Saudi Arabia's path to transition, part 1: Energy diversification
The oil behemoth recognises the need to broaden its energy mix to reduce both environmental and economic risks
Aramco’s Nasser says energy security and sustainability can co-exist
But CEO says prematurely discontinuing investments in fossil fuels threatens serious supply shortfalls and may be counter-productive to energy transition
Middle East energy transitions continue apace
Renewables, desalination and hydrogen are all attracting official support and investment
A banner for Saudi Vision 2030
Saudi Arabia NOCs
Nawaf Bin Awshan
20 November 2024
Follow @PetroleumEcon
Forward article link
Share PDF with colleagues

Saudi Arabia's path to transition, part 1: Energy diversification

The oil behemoth recognises the need to broaden its energy mix to reduce both environmental and economic risks

Saudi Arabia holds one-sixth of the world’s oil reserves and remains a major player in the global oil market, producing 9.61m b/d of crude oil in 2023. The discovery of the Dammam oilfield in 1938 marked the beginning of Saudi Arabia's economic transformation, driven by oil. This development led the country to become a founding member of OPEC in 1960. Over the decades, oil revenues fuelled significant economic growth, positioning Saudi Arabia as a member of the G20 with a GDP of $1.07t in 2023. In fact, oil revenues accounted for 62.29% of the national budget in 2023, underscoring the country’s deep reliance on the sector. However, the Saudi government has recognised the economic and environ

Also in this section
Oman sees green opportunities amid global trade war
18 June 2025
The country’s green hydrogen sector can gain traction even as the global trade war rages and other headwinds hamper the sector, Mohsen al-Hadhrami, undersecretary of energy and minerals, tells Hydrogen Economist
Letter on hydrogen: Cracking the ammonia code
18 June 2025
UK risks losing out on in race to secure hydrogen imports as its refusal to back ammonia cracking sinks $2.7b Immingham project
Europe should partner with China in clean hydrogen race
11 June 2025
China emerges as clear frontrunner as US growth stalls and Europe burdens its industry with labyrinthine regulations
Letter on hydrogen: Bankable business?
30 May 2025
Pressure is growing on developers to prove the bankability of their projects in a challenging market for green hydrogen

Share PDF with colleagues

COPYRIGHT NOTICE: PDF sharing is permitted internally for Petroleum Economist Gold Members only. Usage of this PDF is restricted by <%= If(IsLoggedIn, User.CompanyName, "")%>’s agreement with Petroleum Economist – exceeding the terms of your licence by forwarding outside of the company or placing on any external network is considered a breach of copyright. Such instances are punishable by fines of up to US$1,500 per infringement
Send

Forward article Link

Send
Sign Up For Our Newsletter
Project Data
Maps
Podcasts
Social Links
Featured Video
Home
  • About us
  • Subscribe
  • Reaching your audience
  • PE Store
  • Terms and conditions
  • Contact us
  • Privacy statement
  • Cookies
  • Sitemap
All material subject to strictly enforced copyright laws © 2025 The Petroleum Economist Ltd
Cookie Settings
;

Search